## **Chernobel Shul** Charity Registration Number 1191243 ## **Annual Report and Financial Statements** **For The Year Ended 28 February 2022** ## **ACCOUNTS & BUSINESS SOLUTIONS LIMITED** Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE Page 2 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Contents** |Charity information
Report of the trustees
Independent examiner's report
Income and expenditure account
Balance sheet
Notes forming part of the financial statements
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6
7
8
9 - 13| Page 3 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Charity Information** ## **Trustees** Mr J Roitenbarg Mr D Pollak Mr J Josefovitz (appointed on 09/05/2022) Mr Y Weltscher (resigned on 09/05/2022) ## **Administration Address** 3 St Marks Lane Manchester M8 9GH ## **Charity Number** 1191243 ## **Independent examiner** H Davies FCCA Accounts & Business Solutions Ltd Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE ## **Bankers** Barclays Bank 1-3 Haymarket Towers Leicester LE1 1WA Page 4 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Report of the trustees** The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2021. The accounts have been prepared in accordance with the accounts policies set out in note 3 to the accounts. ## Structure, governance and management Chernobel Shul is a charitable trust constituted by a Declaration of trust executed as of 22/07/2020, as amended by a supplemental deed on 04/09/2020 and is a registered charity, number 1191243. The charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts ana a copy of the Charity Commission leaflet 'The Essential Trustee: What you need to know'. ## Objects and activities The main objectives of the charity are: The furtherance and welfare of the jewish faith throughout England and Wales for the public benefit, mainly but no exclusively by the maintenance of a synagogue and the promotion of Jewish religious worship and education and the maintenance of a community centre for study and religious events. The above objects were acted upon during the year and it is envisaged that these will continue in the following year. The trustees are satisfied that the funds are used wholly for the activities of the charity in furtherance of its objects stated above. ## Trustees The trustees in office throughout the year were Mr Jonathan Roitenbarg, Mr David pollak and Mr Yechezkel Weltscher who resigned post-financial period and was replaced by Mr Joshua Josefovitz on 09/05/2022. The trustees or any person connected with them did not receive any remuneration or expense allowance during the year. ## Risk Management The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks. ## Public Benefit Policy We have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. ## Grant Making Policy Grants are made to charitable institutions and organisations which accord with the objects of the charity. ## Review of the result and reserves policy The trustees consider that the results set out in the attached accounts are satisfactory. They are of the opinion that the balance on the reserves are sufficient to meet any future commitments under the terms of funding. It is the policy of the charity to maintain unrestricted funds of at least £3,000 which covers current commitments under the terms of their funding. Page 5 # **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** # **Report of the trustees (continued)** ## Achievements and performance During the year the charity received £49,316 in donations and had a net surplus of £11,320. The trustees are grateful to the many donors who have been exceptionally generous and have enabled this noble development. ## Responsibilities of the trustees Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year. In preparing those financial statements, the trustees should follow best practice and - a. Select suitable accounting policies and apply them consistently. - b. Make judgements and estimates that are reasonable and prudent. - c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements. - d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as trustees to ensure that the financial statements comply with the Charity Law. The trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities. ## Board Of trustees The members of the Board of the charity are set out on Page 3. Approved by the board and signed on behalf of them all on 20 July 2022. Jonathan Roitenbarg - Trustee Page 6 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Independent Examiner's Report to the Trustees** ## **Independent examiner's report to the trustees of "Chernobel Shul" on accounts for the year to 31 August 2021 set out on pages 7 to 13** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 August 2021. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2015 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2015 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** The charity’s gross income was below £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants _._ I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - a) the accounting records were not kept in accordance with section 130 of the Charities Act; or - b) the accounts did not accord with the accounting records; or c) the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. H Davies FCCA Chartered Certified Accountant Accounts & Business Solutions Limited 158 Cromwell Road Salford Manchester M6 6DE 20 July 2022 Page 7 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** **Income and expenditure account** |_Notes_
**_2021_**
**_£_**
**Incoming resources**
_5)_
Fundraising costs
**Net Incoming resources**
_Less:_
Charitable activities
_6)_
**23,763**
Support costs
_7)_
**12,522**
**Net incoming resources and net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**_2021_**
**_£_**
**49,316**
**(1,711)**
**47,605**
**(36,285)**
**11,320**
**449**
**11,769**| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities and are attributable to unrestricted funds. The Notes on page 9 to 13 form part of these financial statements Page 8 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** **Balance Sheet At 28 February 2022** |**Fixed Assets**
**Current assets**
Cash at Bank
**Current liabilities**
**Creditors:**Amounts due
within one year
**Net Current Assets**
**Total assets less current liabilities**
**Net Assets**
**Accumulated Funds**
Reserves brought forward
Surplus / (Defecit) for the Year
Accumulated Reserves|_Notes_
_8)_
_9)_||**_2021_**
**_£_**
**9,234**
**(600)**|**_2021_**
**_£_**
**3,135**
**8,634**
**8,634**
**11,769**
**449**
**11,320**
**11,769**| |---|---|---|---|---| Approved by the board and signed on behalf of them all on 20 July 2022. Jonathan Roitenbarg - Trustee The Notes on page 9 to 13 form part of these financial statements Page 9 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Notes To The Accounts** ## **1) General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the principal office is 24 Roston Road Salford M7 4FS. ## **2) Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP effective 1 January 2015). ## **3) Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** The charity had a major fundraising drive cumulating in a successful dinner which further publicised the charity activities. Significant funds were raised and the trustees are confident that the charity has returned to a positive net asset position. . **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds. Page 10 **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Notes To The Accounts (continued)** ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Page 11 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Notes To The Accounts (continued)** ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Page 12 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Notes To The Accounts (continued)** ## **4) Taxation** The Charity is exempt from taxation on its charitable activities. **----- Start of picture text -----**
2021
£
5) Incoming resources
Donations received 49,316
Less: Fundraising costs (1,711)
47,605
6) Charitable activities
Cost of Activities In Furtherance
of the Charity's Objects
Refreshments & Direct Charitable Expenditure 12,196
Religious Supplies 11,567
23,763
7) Support costs
Accountancy and Independent examiner's fees 600
Advertising 176
Cleaning 1,612
Rent and premises costs 6,000
Repairs and maintenance 34
Utilities 3,405
Wastage 695
12,522
8) Fixed Assets
**----- End of picture text -----**
|Cost
At 01 March 2021
Additions
At 28 February 2022
Depreciation
At 01 March 2021
Charge for the period
At 28 February 2022
Net Book Value
At 01 March 2021
At 28 February 2022||Van
_£_
0
0
0
0||Furniture
and fittings
_£_
3,135
3,135
0
0
3,135||Library
_£_
0
0
0
0||Land and
building
_£_
0
0
0
0
0
0|**Total**
**_£_**
**0**
**3,135**
**3,135**
**0**
**0**
**0**
**0**
**3,135**|**Total**| |---|---|---|---|---|---|---|---|---|---|---| Page 13 ## **CHERNOBEL SHUL CHARITY REGISTRATION NUMBER 1191243 FINANCIAL STATEMENTS FOR YEAR ENDED 28 FEBRUARY 2022** ## **Notes To The Accounts (continued)** ## **9) Creditors** Amounts due within one year Accruals and deferred expenditure **600 600** ## **10) Independent examination fees** |Fees payable to the independent examiner for:
Independent examination of the financial statements|**600**
**600**| |---|---|